Khadim India’s net profit dips 55 percent to Rs 3 crore
Footwear major Khadim India Limited witnessed a 55 percent drop in its net profit for the first quarter ended June 2019 to Rs 3 crore ($4,22,280) as against Rs 7 crore it had reported in the corresponding quarter last fiscal.
The company’s sales revenue increased 14 percent to Rs 216 crore, as compared to Rs 190 crore it had reported in the year-ago period.
Khadim’s EBITDA for the April-June period also rose 19 percent to Rs 22 crore from Rs 18 crore it had reported last year.
The company has recently signed Bollywood actors Kangana Ranaut and Farhan Akhtar as its new brand ambassadors, as it looks to position the brand as a youthful brand among its stakeholders across India.
Khadim is hoping that the popularity of the actors and connect with the youth will help boost sales in the coming quarters resulting in higher profits.
Khadim India manufactures and retails footwear under its flagship brand, Khadim’s. The brand now has over 800 retail outlets across India and also sells its products through its e-commerce site and other online platforms.
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